City Office REIT: Deep Value Or 7.3% Dividend Yield Trap?

csfotoimages/iStock Editorial via Getty Images The sustained collapse of equity office REITs since 2022 has likely opened up some opportunities to acquire highly distressed assets with decent underlying fundamentals despite the bleak backdrop posed by the tripartite of high interest rates, work-from-home trends, and the specter of a recession. City Office REIT (NYSE:CIO) is down roughly 70% over this time frame, now trading hands at a 67% discount to a book value of $16.83 per share at the end of its la ...